tter so," said
her mother, "and we can't wait for you. I am going a long drive this
afternoon, and I shall only just have time," and Mamma looked at her
watch. "I hope I am a little fast," she added. "What time do you make
it, Lilly dear? Your watch is always to be relied on."

Lilly's hand instinctively went to her watch-pocket--then she suddenly
looked up with a rather startled expression.

"My watch!" she exclaimed. "I must have left it up stairs.
Mamma--_might_ I run up for a moment and see, if you don't mind?"

Mamma nodded. She knew that Lilly's watch was one of the girl's most
prized treasures. It was a handsome, though rather bulky one, which had
been left to her by her godmother, and Lilly cared for it both because
she had loved her godmother, and also for its own sake. It kept
excellent time, and never got out of order as the little fairy-like
watches that are now the fashion are rather apt to do.

Lilly's moment extended to several minutes without her coming back, and
the faces round the table grew rather concerned-looking.

"May I--" Joan was beginning, but just as she spoke Lilly appeared. She
was pale, and almost seemed as if she had difficulty in keeping back her
tears.

"Mamma," she said, "I can't forgive myself, I am dreadfully afraid my
dear watch is gone. I must have left it on the shore."

Up started Bill and Humphrey.

"You'll let us go, Mamma. We don't care about any more dinner. We know
where Lilly left it--no one's likely to have been there."

"And the people about here are so honest," said Joan.

"But," said Mamma, "was the stone where you laid it, Lilly, out of reach
of the tide? It was almost low tide when you bathed."

All looked startled at this, but the boys persisted.

"All the more reason to go at once," they said, and off they set.

Lilly would fain have gone too, but she gave in to her Mother, and sat
quietly, trying to eat, though I fear her luncheon was flavoured by some
drops of salt water.

And in a few minutes the whole party started down the road to meet the
boys and hear the news.

Alas! as soon as Bill and Humphrey appeared, even in the distance, all
hopes were gone. Both boys shook their heads sadly.

"You saw nothing of it?" asked their Mother eagerly. Poor Lilly was past
speaking.

"Nothing--as well as we could make out, the tide must have covered the
stones where the girls dressed, some time ago," they replied.

"Then I fear there is nothing to be done,